Tex. Transp. Code § 201.962 · Subchapter N. HIGHWAY TAX AND REVENUE ANTICIPATION NOTES
NOTES AUTHORIZED; COMMITTEE APPROVAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In anticipation of a temporary cash flow shortfall in the state highway fund during any fiscal year, the commission, subject to the approval of the committee, may issue, sell, and deliver tax and revenue anticipation notes on behalf of the state.
(b) Before issuing the notes, the commission shall submit to the committee a state highway fund cash flow shortfall forecast containing a detailed report of estimated revenue and expenditures. Based on the forecast, the committee may approve the issuance of notes in an amount not to exceed the maximum temporary cash flow shortfall forecast.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1281, Sec. 2, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.201.htm
- Text hash
- sha256 c21c7676166f947247aae4f1a8d65b61cebe86601882ed2d8dbe8ae0970f15b5
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Transp. Code § 201.962. Each shows the citation as that text prints it.
Transportation Code
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